Can I use/setup PayPal as a linked business account for US incorporation

Medici
Contributor
Contributor

I am setting up a start-up company in Delaware, US via Gust.com. I am a non-us citizen. I am an Australian citizen. As part of the process, I need a bank account linked to my new US company to get an EIN. Can I use/setup PayPal as a linked business account for incorporation purposes?

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2 REPLIES 2

sky-king
Contributor
Contributor

an EIN is not issued by gust or any entity other than  the US government's Internal Revenue Service.  To obtain an EIN you file a form SS-4 with the Internal Revenue Service. Then, they assign an EIN to your corporation. The IRS doesn't require anyone to "link a bank account" in order to  be issued an EIN. After you receive that, you can open a business account with paypal using your corporation's EIN instead of a  personal tax number such as a SSN, or ITIN. 

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Medici
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Contributor

Hi

 

Thanks heaps for clarifying. Makes sense. Will try using PayPal after I get a EIN.

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